Issue of Equity

Matrix Income & Growth VCT plc

10 May 2011

Issue of Equity

The Company announces that on 10 May 2011 it allotted and issued 369,076 new
Ordinary Shares of 1p each at a price of 100.6 pence per share.

Application has been made for the new Ordinary Shares to be admitted to the
Official List of the UK Listing Authority and dealings are expected to commence
on 13 May 2011.

Following this allotment the issued share capital of the Company is 43,711,695
Ordinary Shares.

These new shares in the Company have been issued subsequent to the linked offer
for subscription with Matrix Income & Growth 4 VCT plc and The Income & Growth
VCT plc to raise up to £21 million, launched on 12 November 2010 ("the Offer").
A total of £15 million has been raised to date under the Offer. The Offer
remains open until 30 June 2011, unless fully subscribed at an earlier date.

For further information please contact:

Robert Brittain at Matrix Private Equity Partners LLP, Company Secretary, on
020 3206 7000.